EUR/USD is considered as the most common currency pair traded globally, and it also represents world’s two major financial markets. Actually, the currency Euro was formed in order to enable cross-border trade of European transaction associates. It was created in 1999 and since then it has faced substantial unpredictability as most of the economies has confronted numerous occasions of volatility. The events included real estate bubble, tech boom becoming tech bust, debt crisis of Europe, etc. In this post, the readers will be able to gain information on eur usd forecast 2016.
The eur/usd traded comprehensively at the fall of last week after dollar reinforced following the discharge of US inflation data which presented a base point that upsurge above anticipations in August.
Technical analysis of EUR/USD rate forecast
The chart depicted above shows the currency pair inside a series. Also, there is a probability that pair shaped a balanced trio (as you can see in above chart). Now, this can signal probability of a getaway on the limit. One can see a stimulating practical feature, and it is that band made up of 200 and 50-day moving averages positioned at the short of the date’s series at 1.150.
Another important fact is that moving averages can be the most significant altitudes of sustenance and confrontation or support and resistance, and these are likely to verify threatening to breakdown lower. However, MACD (Moving Average Convergence Divergence) indicates that this might be the situation.
Momentum indicator looks composed to endure inferior and drop under zero mark, along with that it also provides a vital bearish signal. Now, this may seem to depict that interchange proportion will also linger to drop. A break just below MA would be vital for the confirmation, along with a line below 1.110 offering the starting indication.
Latest EUR/USD exchange rates
On Monday, USD/EUR converts at 0.869. The live interbank spot was quoted as 1.117. As of now pound to euro is cited at 0.856. Also, the euro conversion is quoted at 1.093 CHF/EUR.
The forex rates of the currencies mentioned above, revised as of 19th September 2016, are interbank prices, and it will need a margin from the bank. Now, brokers can also save up to 5% on their international payments as compared to banks.
EUR to USD forecast 2015 suggested tough phase for the Euro
- Eurozone growth outlook is set to remain subdued which keeps the market expectations for further European Central Bank action heightened.
- Portfolio outflows and EUR was used as a funding currency, and they were consistent with a longer-term structural decline.
- EUR remains at risk from deflationary pressure worldwide, also given the relative openness of the Eurozone economy and high debt levels.
So, this was all about eur usd forecast 2016, and hopefully, the readers have gained some knowledge. Don’t waste your time, use your skills and knowledge and earn more. Feel free to share your thoughts and queries below.